A potential upside move for IAG (LON: IAG), a continued fall for Boohoo (LON: BOO), and Tesco’s (LON: TSCO) Q1 trading statement on Friday makes up our list of three to watch this week. Here’s what we are looking out for:

IAG

British Airways owner IAG’s shares have remained somewhat resilient over the past couple of weeks, even during days general market sentiment has been negative.

While Google Trends data shows searches for some of the airline holding company’s carriers have stabilised over the last couple of months, web traffic data from Semrush suggests web visits are still near highs, representing strong demand.

This is in tune with the current industry theme. As a result, we see IAG shares continuing to climb this week. 

Boohoo

Unfortunately for Boohoo shareholders, the stock is on the other end of the spectrum, declining well over 8% on Friday.

We have checked the demand stats and search trends, web traffic (to Boohoo.com), and Twitter mentions continue to remain subdued.

While consumer sentiment is split, investor sentiment remains firmly to the downside, with the stock still one of the top five most shorted in London. 

Despite the negatives, we remain neutral as we are unsure just how much lower Boohoo can go. 

Tesco

Tesco is set to report a Q1 update on Friday, June 16. 

The supermarket giant revealed that its profits halved in 2022/23 due to significant cost inflation.

As a result, we will be watching out for how costs may have impacted the company’s first quarter. 

Elsewhere, we have noticed in recent months Tesco has slipped below Sainsbury’s and Asda when it comes to the cheapest-priced supermarket. However, we feel the company’s aggressive signposting of its Clubcard prices in-store (Clubcard holders receive reduced pricing) is resonating with consumers.

By Sam Boughedda